CandleFocus Bitcoin Struggles to Reclaim Key Resistance as It Tests Trendline Support
2025-02-20
Author: Content Editor
Bitcoin is facing resistance at the $97,700 level and has been unable to establish support at this level. It is now seeking stability at the lower blue trendline. Despite the consolidation, Bitcoin is holding the descending trendline support, indicating a possible bullish divergence. The inability to sustain a move above $97,700 highlights its importance as a pivot point. Technical indicators suggest early signs of bullish momentum, but support at $94,000 is crucial to prevent deeper declines. If buyers can maintain control above the blue trendline, Bitcoin may attempt a breakout towards $100,000. Confirmation of a trend reversal or continuation of the downtrend is being closely watched by market participants.
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